The Credit CARD Act of 2009 , which had its 5th birthday on May 22, is a government success story that cleaned up a Wild West credit card marketplace by eliminating unfair tricks and traps without destroying the market. Despite “sky is falling” claims of impending doom from industry apologists at the time, the credit card industry is still strong and consumers can choose from a variety of cards. Let’s celebrate by taking similar steps to fix the problems in the growing prepaid and debit card markets. In particular, we need to rein in unfair overdraft fees. First, let’s […]

Click here to view original article Credit CARD Act Turns 5, A Big Success Story